"Double wheel" drives the group's "dye blue" index, and the first "breakthrough" consistency evaluation of three varieties seizes nearly 10 billion market

On June 4, Shijiazhuang Pharmaceutical Group officially joined the "blue chips" of Hong Kong Hang Seng Index and was crowned the "first pharmaceutical share" of Hang Seng Index On the same day, the group announced that paclitaxel for injection (albumin binding type) has been included in the catalogue of drugs listed in China to realize the clinical substitution of original research drugs Up to now, the group has passed or deemed to pass the consistency evaluation for the first three varieties, seizing nearly 10 billion markets   none="shifuMouseDownStyle('shifu_bus_002')" style="margin: 1em auto; padding: 0px; max-width: 100%; font-size: 17px; letter-spacing: 0.544px; widows: 1; line-height: 25.6px; font-family: -apple-system-font, Bl inkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; color: rgb(62, 62, 62); border-style: none none solid; text-align: center; border-bottom-width: 1px; border-bottom-color: rgb(0, 0, 0); box-sizing: border-box !im portant; word-wrap: break-word !im portant; "> what is the first stock of Hengyi pharmaceutical? On June 4, Shiyao Group officially joined the Hong Kong Hang Seng Index (index weight is 0.97%) and became a" blue chip "in Hong Kong stocks In the past 50 years, the Hang Seng Index has not had the company "dye blue" whose main business is medicine What is the basis for the group to become the first mainland medicine stock in Hong Kong market According to sun Jumin, vice president of Sinopharm group, the stable performance and high growth brought by innovation and internationalization "two wheel drive" are the basic reasons for Sinopharm to enter the Hang Seng Index, which also indicates that the biopharmaceutical industry represented by Sinopharm has entered the golden age in the capital market Looking at the financial indicators of Sinopharm group in recent years, we can find that the group's performance shows a steady growth trend, especially in the first quarter of 2018, the performance is very strong, exceeding the market expectations According to the performance data of the first quarter of 2018 released by Sinopharm group, the group achieved an operating revenue of HK $5.387 billion, a year-on-year increase of 55.2%; a net profit attributable to the parent company of HK $0.91 billion, a year-on-year increase of 42.6%; and a further increase of gross profit rate to 64.3% Figure 1: revenue of finished drugs and APIs of PetroChina group in the same quarter of 2016-2018 (unit: HK $100 million) (source: announcement of listed companies) the group's revenue comes from finished drugs and APIs, and finished drugs occupy the leading position, with the proportion of total revenue increasing year by year In the first quarter of 2018, the group's finished drugs grew strongly, with sales revenue reaching HK $4.053 billion, a year-on-year increase of 58.5%, accounting for 75.24% of total operating revenue Figure 2: R & D investment of Sinopharm group in the same quarter of 2016-2018 (unit: HK $100 million) (source: public company announcement) the group attaches great importance to R & D innovation In the first quarter of 2018, R & D investment was HK $321 million, up 101.74% year on year In terms of innovative drugs, innovative products such as butylphthalide soft capsule and injection (trade name: enbep), oxiracetam capsule and freeze-dried powder injection (trade name: olanin), L-amlodipine maleate tablet (trade name: Xuanning), doxorubicin hydrochloride liposome injection (trade name: domenicol) achieved a total sales revenue of about 2.357 billion Hong Kong dollars, a year-on-year increase of 66.0%, accounting for 58.15% of the total revenue of finished drugs 。 According to the data of minenet, in 2017, in China's urban public hospitals, county-level public hospitals, urban community centers and township health centers (referred to as China's public medical institutions) terminals, olacetam, the top 20 brand of psychostimulant, was ranked the second with 7.98% market share; Among the top 20 brands of butylphthalide, enpip of Sinopharm group ranks the second with a market share of 22.52% In terms of internationalization, according to the 2017 annual report data of Sinopharm group, by the end of 2017, the number of andas approved by the group in the United States had reached 15, including 3 approved in 2016 and 8 approved in 2017, with a significant increase compared with last year In addition, there are many anda approvals in the process of approval, and more anda varieties are expected to emerge in the future   none="shifuMouseDownStyle('shifu_bus_002')" style="margin: 1em auto; padding: 0px; max-width: 100%; font-size: 17px; letter-spacing: 0.544px; widows: 1; line-height: 25.6px; font-family: -apple-system-font, Bl inkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; color: rgb(62, 62, 62); border-style: none none solid; text-align: center; border-bottom-width: 1px; border-bottom-color: rgb(0, 0, 0); box-sizing: border-box !im portant; word-wrap: break-word !im portant; "> another product has been evaluated for consistency, and the first innovation to beat hengruicheng is the development source power of Sinopharm group, but the group is also worth looking forward to in the field of generic drugs Recently, stone Pharmaceutical Group announced that its paclitaxel for injection (albumin binding) (trade name: Klein) has been included in the catalogue of drugs on the market in China Before applying for new drug registration, Klein has completed clinical be test, which is deemed to have passed the consistency evaluation, and can be used instead of the original product   Shiyao group and Hengrui are the first two enterprises to submit the application for production of paclitaxel for injection (albumin binding type) In the first imitation competition of this product, Hengrui, known as "the first brother of R & D", is more favored Now, it has won the first chance by Shiyao group After being approved and listed in February this year, keaili of Shiyao group has gained popularity Now it has passed the consistency evaluation of generic drugs Price, further seizing the market share of the original research drug Paclitaxel for injection (albumin binding type) is a new preparation of paclitaxel and albumin binding, which is used to treat breast cancer and other cancers It was developed by abraxis Bioscience, and its trade name is Abraxane In 2010, abraxis was acquired by Xinji, and Abraxane was included in the bag According to the mid drug evaluation database of midnet, in addition to the original research and production of new base, at present, only one enterprise of Sinopharm group is approved to produce paclitaxel for injection (albumin binding type) which has passed the consistency evaluation in China Figure 3: 2017 China's public medical institutions paclitaxel brand competition pattern (source: minernet China's public medical institutions competition pattern) According to minernet data, the total market of China's public medical institutions terminal paclitaxel in 2017 was 5.724 billion yuan, an increase of 13.46% year on year Among the top 20 brands of paclitaxel, paclitaxel for injection (albumin binding type) originally researched ranked the third with sales volume of 516 million yuan and market share of 9.02% The global sales volume of Abraxane, the original research drug, reached 1165972 million dollars in 2016   none="shifuMouseDownStyle('shifu_bus_002')" style="margin: 1em auto; padding: 0px; max-width: 100%; font-size: 17px; letter-spacing: 0.544px; widows: 1; line-height: 25.6px; font-family: -apple-system-font, Bl inkMacSystemFont, "Helvetica Neue", "PingFang SC", "Hiragino Sans GB", "Microsoft YaHei UI", "Microsoft YaHei", Arial, sans-serif; color: rgb(62, 62, 62); border-style: none none solid; text-align: center; border-bottom-width: 1px; border-bottom-color: rgb(0, 0, 0); box-sizing: border-box !im portant; word-wrap: break-word !im portant; "> the first three varieties passed the consistency evaluation In addition to Klein, two varieties of Shiyao group passed the consistency evaluation, namely tramadol hydrochloride, a non morphine strong analgesic, and azithromycin, an anti infective drug, respectively These two varieties are the first in China to pass the consistency evaluation and enjoy preferential policy dividend Tramadol can be used in the treatment of moderate to severe pain, but also to reduce the pain of depression, anxiety patients According to the data of mienei.com, in 2017, the sales volume of tramadol, the terminal of public medical institutions in China, was 150 million yuan Among the top 20 brands, qimaite of Shiyao group ranked the third with a market share of 10.96% Azithromycin belongs to macrolide antibiotics, which can be used in sinusitis, pneumonia and throat infection caused by sensitive bacteria In 2017, the sales volume of azithromycin in China's public medical institutions was 3.777 billion yuan, up 5.24% year on year Among the top 20 brands, Viagra group products ranked fourth with a market share of 4.52% Up to now, three of the group's "first varieties in China" have passed the consistency evaluation In 2017, the terminal market of public medical institutions in China totaled nearly 10 billion These three varieties will quickly seize the original research drug market, bringing great benefits to the group's business income, and will also trigger a market reshuffle in this field Source: minenet database, annual report and announcement of listed companies